Cardinal Energy’s (CJ) Outperform Rating Reiterated at Scotiabank

Scotiabank reiterated their outperform rating on shares of Cardinal Energy Ltd (TSE:CJ) in a research note published on Tuesday morning. Scotiabank currently has a C$12.00 target price on the stock.

A number of other research firms have also recently weighed in on CJ. Royal Bank Of Canada restated an outperform rating and set a C$12.00 target price on shares of Cardinal Energy in a research note on Tuesday. Dundee Securities lifted their target price on shares of Cardinal Energy from C$10.50 to C$11.00 and gave the company a buy rating in a research note on Wednesday, August 3rd. Finally, TD Securities restated a buy rating and set a C$11.50 target price on shares of Cardinal Energy in a research note on Wednesday, August 3rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of C$11.25.

Cardinal Energy (TSE:CJ) opened at 8.76 on Tuesday. Cardinal Energy has a 52 week low of $5.59 and a 52 week high of $11.21. The company’s market capitalization is $643.82 million. The stock’s 50 day moving average price is $8.96 and its 200-day moving average price is $9.17.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 15th will be issued a $0.035 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.79%.

In other news, insider Tim Hyde sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of C$8.68, for a total value of C$217,000.00.

About Cardinal Energy

Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.